Written answers
Tuesday, 28 September 2021
Department of Finance
Tax Data
Gerald Nash (Louth, Labour)
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297. To ask the Minister for Finance the estimated cost of a reduction of the rate of VAT on energy bills from 13.5% to 9% for a 12-month period; and if he will make a statement on the matter. [46807/21]
Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised by Revenue that traders are not required to identify the VAT yield generated from the supply of specific goods or services on their VAT returns. However, a tentative estimate (using a combination of data sources) of the cost of a 4.5% reduction on the VAT collected on domestic energy supplies is as follows.
Fuel Type | Cost (€m) |
---|---|
Solid Fuels | 12 |
Home Heating Oils | 50 |
Gas | 20 |
Electricity | 88 |
Total | 170 |
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